YEREVAN, October 11. / ARKA /. The Austrian Raiffeisen Bank International has named Armenian Araratbank the best bank in Armenia in terms of  handling remittances through SWIFT money transfer system, Araratbank said in a press release.

According to it, the award was handed by representatives of Raiffeisen Bank International AG to the head of Araratbank’s international operations department during a seminar for professionals of its correspondent banks in Yerevan.

"This assessment indicates that remittances operated by Araratbank comply with international quality standards. It also confirms high speed automated processing of remittances and their accessibility to customers in the shortest possible time. As an active member of  international electronic payment systems Araratbank  carried out transfers this year as quickly and correctly as possible",  the press release says.

The Austrian Raiffeisen International Bank Holding is active in 17 countries in Central and Eastern Europe; the bank employs about 57,000 people. In Russia it owns ZAO Raiffeisenbank. Raiffeisenbank has been in Russia  since 1996 and offers a full range of services to private and corporate clients, both resident and non-resident, in rubles and foreign currency. Araratbank is owned by Barsegh Beglarian (74.18%) and EBRD (25 percent).  -0-